Fresh US, UK Sanctions Target Firms, Vessels, & Individuals Facilitating Iran Oil Trade

The United States and the United Kingdom have announced a new round of sanctions against Iran, targeting shipping networks, oil tankers, and companies accused of helping Tehran move crude in violation of international restrictions.

The U.S. Treasury Department said it had sanctioned 13 entities registered in Hong Kong, China, the UAE, and the Marshall Islands, along with eight vessels on Thursday. Greek national Antonios Margaritis was also named for running a network of companies and ships that were used to transport Iranian oil.

Among the companies placed under U.S. sanctions are Ares Shipping Limited in Hong Kong, Hong Kong Hangshun Shipping Limited and Comford Management in the Marshall Islands. Tankers added to the sanctions list include the Panama-flagged Adeline G and Kongm, as well as the Lafit, which sails under the flag of São Tomé and Príncipe.

The U.S. State Department announced additional measures against two China-based operators of oil terminals and storage facilities. Officials said the companies handled imports of Iranian crude carried by tankers that had already been blacklisted.

The sanctioned firms are Qingdao Port Haiye Dongjiakou Oil Products Co (Shandong) and Yangshan Shengang International Petroleum Storage and Transportation Co (Zhejiang).

UK has also announced sanctions against Iranian oil businessman Mohammad Hossein Shamkhani and four companies in the shipping, petrochemical, and financial sectors. The UK Foreign Office said the measures include an asset freeze and a travel ban.

Officials accused Shamkhani of being part of a network that helps Tehran fund operations overseas, including what they called destabilising activities in Ukraine and Israel. Middle East Minister Hamish Falconer said Iran’s dependence on such trading networks allowed it to back proxy groups in the region and even conduct threats inside the UK.

The Iranian embassy in London condemned the sanctions, describing them as “unilateral and illegal measures” based on “baseless allegations.” Shamkhani, whose father is an adviser to Supreme Leader Ayatollah Ali Khamenei, could not be reached for comment.

The U.S. had already sanctioned Shamkhani last month, saying he controls a web of container ships and oil tankers through intermediaries that sell Iranian and Russian oil and other goods worldwide. The European Union also blacklisted him in July.

British lawmakers have separately warned that Iran poses a growing threat to the country. Their assessment said Iran’s activities could include physical attacks, assassination attempts on dissidents and Jewish communities, espionage, cyber operations, and efforts to advance nuclear weapons development.

Iran has dismissed all such accusations, calling them unfounded, politically motivated, and hostile.

References: US Treasury, Reuters

Source: Maritime Shipping News